South China Morning Post: Despite Bitcoin's deep correction to a 10-month low, Hong Kong crypto investors remain cautiously optimistic

CycleProphet · 2026-02-03T03:41:13+00:00

Despite Bitcoin prices falling to a 10-month low, cryptocurrency investors in Hong Kong remain optimistic. Analysis indicates that macroeconomic pressures and gold market sell-offs are the reasons for the decline, and investors view this volatility as normal.

CycleProphet

2026-02-03 03:41:13

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Deep Tide TechFlow News, February 3rd, according to South China Morning Post, despite Bitcoin prices plummeting over the weekend to a 10-month low, Hong Kong cryptocurrency investors remain cautiously optimistic. Bitcoin fell to $74,541 on Monday, down approximately 40% from its all-time high of $126,000. Other major cryptocurrencies also weakened, with Ethereum dropping over 15% since last Friday evening, and Solana declining more than 12%.

Digital asset company Animoca Brands Group President Evan Auyang stated that macro pressures have severely impacted the crypto market. Caerus Global Management founder James Aitchison pointed out that this round of decline was initially triggered by a sharp sell-off in the precious metals market over the weekend, and was amplified by low trading volume over the weekend and Bitcoin breaking below the $80,000 psychological threshold. Hong Kong professional investors generally view this volatility as “business as usual.”

BTC1,16%

ETH0,32%

SOL-0,03%

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